SE Asia: Imported billet prices remain rangebound on mixed market sentiments

Southeast Asia's imported billet market showed mixed sentiment this week. Buyers preferred to stay silent amid ongoing Golden Week holiday in China. Meanwhile, no movement was recorded in the region on low demand. Price indications stood at $510-515/tonnes (t) CFR Manila and offer floated was at $525/t CFR in the region.

Meanwhile, Turkiye's imported scrap prices were down this week. According to SteelMint's latest assessment, HMS 1&2 (80:20) prices from the US stood at $370/t CFR Turkiye.

Chinese billet prices stood at RMB 3,480/t ($477/t) on 28 September, 2023, amid ongoing Golden Week holidays, market was closed.

Market highlights

Indian market witnessed import bookings: An Indian mill has booked 100,000 t billets from Indonesia at $510-520/t CFR, the delivery of material is scheduled in the month of November.

Thailand's imported billet offers from ASEAN remain high: Imported billet offers from ASEAN region into Thailand were recorded at $525/t CFR.

Iranian billet export prices rangebound w-o-w: Iran's semi-finished steel export market has opted for wait-n-watch mode on mixed market sentiments. Billet producers are waiting to reopen the market post-China's Golden week holiday to watch the trend in the market. Movement in the market is noticed, some billet export tender concluded in the region. SteelMint noted, that one of the Iran's leading steel mills, has concluded a 30,000 t of an export tender for billet at $475/t. In another deal heard, 30,000 t of billet export deal was concluded at $476/t FOB. The shipment is scheduled on end-November.